Hearing slated for Dynegy settlement with creditors

Saturday

May 26, 2012 at 2:00 AM

Jessica DiNapoli

POUGHKEEPSIE — A hearing is scheduled on Dynegy Holdings’ settlement agreement with its creditors for Friday in U.S. Bankruptcy Court.The agreement calls for the sale of the Roseton and Danskammer power plants in the Town of Newburgh to satisfy some of the $2.5 billion in claims from Dynegy Holdings’ creditors. It also requires Dynegy to file a new Chapter 11 plan and disclosure statement with bankruptcy court by Wednesday. The Town of Newburgh earlier this month filed a motion demanding Dynegy pay $7.6 million in property taxes it owes the municipality and Orange County. That will also be discussed at the hearing.